Corelens to change sectors from medicine to real estate

Listed on the small-cap, alternative NewConnect market Corelens, plans to change the scope of its activity and start developing residential and commercial facilities, the company said in a market filing. ”In connection with the observed in recent years lack of significant increases in the value of the company's revenues resulting from its current operations, the management board intends to take actions that may lead to a change in the company's business development activity consisting in the construction of single- and multi-family residential buildings and commercial facilities,” the company said. “In the opinion of the management board, if the planned changes come into effect, it will be a positive change for shareholders, because it will enable the company to operate in a rapidly growing segment of the real estate market,” Corelens added. Currently, Corelens' provides specialized solutions for the ophthalmic industry. The basis of the offer is the sale of intraocular lenses used by doctors in cataract surgery.